Raising $1 billion of new capital to invest when you’re worried about global markets might sound odd, but CLSA’s private equity arm has done just that. Relaunched and rebranded as CLSA Capital Partners (CLSACP), it has just closed four new funds.
“Asia ex-China looks very good,” says Gary Coull, chairman and CEO of CLSACP as well as chairman of CLSA. “I’m more worried about global problems: I think we’re heading for a perfect [economic] storm.”
Despite the concerns, CLSA decided to beef up private equity as something of a hedge against its core research-driven broking business.
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